TraderMind: Get a Mindful Edge in the Markets
Format: PDF / Kindle (mobi) / ePub
Become a savvy trader with a "mindful" edge...
TraderMind is an essential resource for understanding and applying mindfulness-based approaches that help to enhance an individual trader's overall performance. Based upon extensive research and practical application in the real world of the trading floor, TraderMind includes methods, tactics and techniques to build and enhance awareness and insight, which help manage thoughts and emotions and maximize trading performance.
The author demonstrates how to overcome habitual or impulsive trading behaviours, manage energy levels, become more attuned to and responsive to the market, more situationally aware and build patterns of effective trading behaviour. By developing these skills and good behaviours, traders can overcome inherent biases and, ultimately, improve their trading decisions.
The techniques outlined in TraderMind can be utilized as core competencies of trading psychology or can be used to complement other behavioural methods and strategies. The TraderMind tool-set does not replace the need for basic trading skills, knowledge, strategy, or key performance enablers such as preparation and performance analysis. Rather, TraderMind is designed to act as a facilitator or multiplier to enhance trader decision-making and improve overall performance. "A thoughtful read with 'bang-for-the buck' practical strategies for time pressed traders." – Linda Raschke, President at LBRGroup, Inc., CTA
Also includes the TraderMind 8 Week Training Program PLUS Access to online resources and audio recordings to enhance your learning experience.
TraderMind Get a Mindful Edge in the Markets How to Train Your Mind, Manage Your Emotions, Enhance Your Decisions and Maximise Your Profits Steve Ward This edition first published 2015 � 2015 Steve Ward Registered office John Wiley & Sons Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom For details of our global editorial offices, for customer services and for information about how to apply for permission to reuse the copyright material in this book please
practise mindfulness you activate your left prefrontal cortex, the part of your brain that is concerned with positive emotions; you also bring your brain to a point of singular focus, which is a very different experience from the multiple sensory stimulation of the trading floor. The combination of bringing your brain back to basics with mindfulness and the positive emotions experienced as a result could be key to fending off the distractibility and impatience that ADT can bring. Being able to
engage with greater energy and be more creative in your actions. Memories – Thoughts from the Past On a visit to Asia I was asked by a fund manager: “How can I get rid of the memory of the big loss I took earlier this year?” This is an interesting question. Memories from the past can, for some traders, become interference that affects their trading decisions. Take a moment to reflect on your own experience of any memories you have that may interfere with your own trading. One trader I coached
bringing an awareness to the points of contact you have with the floor/chair. Now bring the “spotlight of attention” to your feet – the soles, heels, toes and tops of the feet – noticing any sensations that may be present, or the sensation of no sensations, whatever is there. Hold your attention here for a few moments. Now repeat this process of shining the spotlight and holding an awareness for a few moments as you move through the body: legs, stomach/lower back, chest/upper back, arms,
values and of one core value in particular – professionalism. From a strong commitment to professionalism, he told everyone, we will get good performance and from good performance we will achieve profits. He then went on to provide clear behavioural examples of how people within the company were demonstrating professionalism and the impact that it was having on performance and the company's year-on-year increasing profitability. This approach is counter to the approach of many people and